424 W Broad St, Spiceland, IN, 47385 | Equity Gain $987/yr

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424 W Broad St, Spiceland, IN, 47385 | Equity Gain $987/yr | Ziffy

For Sale

Fix & Flip

Ziffy Mortgage

NMLS #2625701

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Ziffy AI Summary

A quick, investor-focused snapshot highlighting income strength, yield potential.

Key metrics	Value
Price	$399,900
Est. Rent	$3,200/mo
ROI	18%

Attractive rent-to-price ratio for income stability
Good fit for DSCR financing with healthy coverage

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Investment Highlights

Rental property for sale in Spiceland at 424 W Broad St, Spiceland, IN, 47385 generates $0/mo in rent, after a $749/mo payment. Total monthly income is $0/mo. Return on cash invested sits at -1.82% in year one, and rental yield is 0% on a $153,000 entry. Equity gained on principal adds $987/yr, while 5% annual appreciation builds toward $42,271 over five years. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $0/mo property income rather than buyer’s personal income.

Single Family

Built in 1900

0.42 Acres lot

$N/A/sqft

No HOA

More details about the property

Located at 424 W Broad ST, in the charming town of Spiceland, IN, this single-family residence in Henry County presents an inviting home, ready to move in and begin creating new memories. Imagine starting your day in the beautifully appointed kitchen, featuring shaker cabinets that offer a blend of classic design and modern functionality, providing ample space for culinary creations and everyday meals. Picture yourself unwinding in the bathroom, where a luxurious soaking tub invites relaxation and rejuvenation after a long day, creating a personal spa-like experience within the comforts of home. The residence includes four bedrooms and two full bathrooms within its 1458 square feet of living area, spread across two stories, offering comfortable accommodation. The property also boasts a pergola, providing a charming outdoor space to enjoy the expansive 18295 square feet lot area. This 1900 residence offers an opportunity to own a piece of Spiceland's history, blending vintage charm with the promise of contemporary living. HUD Case#: 156-534286 IE. HUD homes are sold As-Is. Information deemed reliable but not guaranteed.

Neighborhood Data

Neighborhood data shown for ZIP Code: 47385, Spiceland, IN area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	762 (100%)
Owner Occupied HU	572 (75.1%)
Renter Occupied HU	140 (18.4%)
Vacant Housing Units	50 ( 6.6%)
Median Home Value	$212,626
Average Home Value	$316,888